SHANGHAI, Oct 16 (SMM) — Stocks of copper in Shanghai bonded areas increased for the eleventh consecutive week.
SMM data showed that the stocks expanded 21,000 mt from the prior week to 330,000 mt as of Friday October 16.
This week, the import arbitrage window remained closed with the sluggish demand for export. The traders shipped their cargoes to bonded warehouses after production has resumed. This also accounted for the sharp increase of bonded inventories.